Search found 2601 matches

Return to advanced search

Can't View Thread

Bogleheads • View topic - ROTH Contributions - Overboard and Set ... http://www.bogleheads.org/forum/viewtopic.php?f=10&t=149869&p... 19 hours ago - 9 posts - ‎5 authors As someone who works in tax, I have to say that ROTH contributions are being touted to a ridiculous level. I read Yahoo Fi...
by kaneohe
Thu Oct 30, 2014 9:45 pm
 
Forum: Forum Issues and Administration
Topic: Can't View Thread
Replies: 1
Views: 119

Re: 401(k) Roll over to rIRA or tIRA?

perhaps this from the wiki might be useful in the thought process: http://www.bogleheads.org/wiki/Roth_IRA_conversion
by kaneohe
Thu Oct 30, 2014 4:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401(k) Roll over to rIRA or tIRA?
Replies: 3
Views: 243

Re: A Little Common Core Math problem

investingdad wrote: She apparently solved it iteratively by testing each answer by dividing the choices by 8 and then..


I like your way (equations) better. In the real world, she will not be gifted with a small number of possible answers to test. :happy
by kaneohe
Thu Oct 30, 2014 2:07 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2273

Re: How are you supposed to move a 401k

Was the new 401K that more attractive than the old? Leaving it at the old employer would have eliminated this problem but also eliminated the chance that you could have gained from the delay.
by kaneohe
Thu Oct 30, 2014 10:57 am
 
Forum: Investing - Help with Personal Investments
Topic: How are you supposed to move a 401k
Replies: 19
Views: 1108

Re: Wash sale/taxable to tax deferred question

A $10 loss at best would reduce taxable ordinary income $10 so if you're in the 25% bracket would cost you $2.50. At worst, it would reduce your net capital gains
$10 and save you 0 or $1.50. You can decide if your learning or your time is more valuable............. :happy
by kaneohe
Thu Oct 30, 2014 10:52 am
 
Forum: Investing - Help with Personal Investments
Topic: Wash sale/taxable to tax deferred question
Replies: 5
Views: 299

Re: How are you supposed to move a 401k

You can mitigate the risk of being "Out of the market" by doing partial account transfers in 2,3 or more phases. Instead of doing a complete account transfer do a transfer of a certain dollar amount each time, with the final transfer being the remaining account balance. While it's always ...
by kaneohe
Thu Oct 30, 2014 10:44 am
 
Forum: Investing - Help with Personal Investments
Topic: How are you supposed to move a 401k
Replies: 19
Views: 1108

Re: Need help: Roll over to new plan or leave $$ in old plan

........and why a Roth, instead of a TIRA? simply because you have an existing Roth IRA? yes, with Vanguard. have you read this? http://www.bogleheads.org/wiki/Roth_IRA_conversion There is a decision process to see if you should do a Roth conversion w/ its associated tax consequences.
by kaneohe
Thu Oct 30, 2014 10:00 am
 
Forum: Investing - Help with Personal Investments
Topic: Need help: Roll over to new plan or leave $$ in old plan?
Replies: 18
Views: 981

Re: Wash sale/taxable to tax deferred question

I didn't see the word "loss" anywhere.
by kaneohe
Thu Oct 30, 2014 9:51 am
 
Forum: Investing - Help with Personal Investments
Topic: Wash sale/taxable to tax deferred question
Replies: 5
Views: 299

Re: Onetime Step up in Basis for inherited stocks

My mother has stocks that are owned individually (not through a brokerage) by her revocable trust. not a lawyer so take info w/ grain of salt. Who was/is owner of stocks? To a first order sounds like your mother but your qualifying phrase (not through a brokerage) makes it sound that she had indivi...
by kaneohe
Thu Oct 30, 2014 9:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Onetime Step up in Basis for inherited stocks
Replies: 3
Views: 249

Re: Are we really in the 0% bracket?

[quote="Gattamelata"............................................... To nitpick a bit: I don't think there is a 0% bracket................................................. For instance, if your ordinary income falls into the 10% or 15% brackets, your qualified dividends and long term capita...
by kaneohe
Thu Oct 30, 2014 8:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Are we really in the 0% bracket?
Replies: 32
Views: 3646

Re: Medicare Part D

Thanks, lululu, for reminding me of that hospital possibility. I also noticed on the medicare.gov plan comparison chart that there were limits on blood and foreign travel so I guess you could rack up OOP expenses if you went over the limits there.
by kaneohe
Wed Oct 29, 2014 2:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D
Replies: 22
Views: 1157

Re: Medicare Part D

Recommended reading: Check out the Medicare for Dummies book. The author, Patricia Barry, writes the "Ask Ms. Medicare" column for AARP. I was so impressed with the book when I got it out of the library, I ended up buying my own copy. It really untangles a lot of the confusion. (One short...
by kaneohe
Wed Oct 29, 2014 1:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D
Replies: 22
Views: 1157

Re: Are we really in the 0% bracket?

For reference, a documented TaxCaster LTCG bug: https://ttlc.intuit.com/questions/2579429-taxcaster-online-and-app-is-computing-long-term-capital-gains-incorrectly-when-gains-push-income-from-15-to-25-marginal-bracket THanks! Good find.............recent too. Looks like OP stumbled into it yesterda...
by kaneohe
Wed Oct 29, 2014 1:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are we really in the 0% bracket?
Replies: 32
Views: 3646

Re: Are we really in the 0% bracket?

Might be a bug with TT? I used Taxcaster made by the same guys who made TT and got results similar to yours (the large discontinuity in tax results, not the 33K conversion). I then used the HR Block tax calculator http://www.hrblock.com/get-answers/tax-calculators.html Input same #s as you for QDIV...
by kaneohe
Wed Oct 29, 2014 12:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are we really in the 0% bracket?
Replies: 32
Views: 3646

Re: Medicare Part D

Recommended reading: Check out the Medicare for Dummies book. The author, Patricia Barry, writes the "Ask Ms. Medicare" column for AARP. I was so impressed with the book when I got it out of the library, I ended up buying my own copy. It really untangles a lot of the confusion. (One short...
by kaneohe
Wed Oct 29, 2014 10:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D
Replies: 22
Views: 1157

Re: Need help: Roll over to new plan or leave $$ in old plan

........and why a Roth, instead of a TIRA? simply because you have an existing Roth IRA?
by kaneohe
Wed Oct 29, 2014 9:08 am
 
Forum: Investing - Help with Personal Investments
Topic: Need help: Roll over to new plan or leave $$ in old plan?
Replies: 18
Views: 981

Re: Tax repercussions of five separate 529 accounts.

One thing I haven't seen mentioned: You're under no legal obligation to use that money on behalf of the nephews and/or nieces. If I were doing what you were doing, I'd make sure that anyone giving money for this heard that from me, because I wouldn't want them finding out about it from someone else...
by kaneohe
Wed Oct 29, 2014 8:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax repercussions of five separate 529 accounts.
Replies: 9
Views: 855

Re: What online banks do you like for savings or MMA?

Not a long history for me but so far so good.........Synchrony Bank (formerly GE Capital Retail Bank when I started) 0.95%, advertising like mad, simplifying tier interest rate tier structure, reducing minimum balances and nuisance fees, etc. to attract new customers. One of the few to pass my scree...
by kaneohe
Wed Oct 29, 2014 8:35 am
 
Forum: Personal Finance (Not Investing)
Topic: What online banks do you like for savings or MMA?
Replies: 41
Views: 2201

Re: Are we really in the 0% bracket?

Turbo tax seems to be telling us that we can convert about $33000 and pay zero taxes, but any more will trigger about $10000 tax. It seems to say that there is no level of conversion that will produce 15%. It's either zero or more than 15% marginal. Can this be true? are you using TT software (whic...
by kaneohe
Tue Oct 28, 2014 11:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are we really in the 0% bracket?
Replies: 32
Views: 3646

Re: Are we really in the 0% bracket?

Are you over 65? When I plug in $6,600 of Qualified Dividends and $70,000 or LTCG, I show you could have $15,900 of conversions before you'd have a tax liability. This is assuming MFJ, 2 exemptions, Under 65, using 2013 tax rates. but do you show a jump from 0 taxes to something near 10K with a $1 ...
by kaneohe
Tue Oct 28, 2014 6:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are we really in the 0% bracket?
Replies: 32
Views: 3646

Re: Medicare Part D

There is no connection that I know of between Plan D and Medicare or Medigap. How it works with MA I have no idea. Most, maybe all, Medicare Advantage plans include drug coverage, so if you go with a Medicare Advantage plan you don't elect Plan D. and if you join both medicare advantage and a plan ...
by kaneohe
Tue Oct 28, 2014 6:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D
Replies: 22
Views: 1157

Re: Need help: Roll over to new plan or leave $$ in old plan

thanks! So looks like i'll have to do a backdoor roth. I already have a Vanduard Roth IRA so plan on rolling over to that. Does anyone know if I call Vanguard, they will assist me with the backdoor roth? or is it something i'll have to do on my own? Not sure that the suggestion was to do a Roth con...
by kaneohe
Tue Oct 28, 2014 6:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need help: Roll over to new plan or leave $$ in old plan?
Replies: 18
Views: 981

Re: Medicare Part D

For traditional Medicare, do you buy Part D from Medicare directly (Uncle Sam) or must you buy it from an outside insurer. I seem to think Highmark BC/BS here shows it as something you buy outside...not just like "enrolling" in Part B directly from Uncle. How to join a drug plan from http...
by kaneohe
Tue Oct 28, 2014 4:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D
Replies: 22
Views: 1157

Re: Are we really in the 0% bracket?

Are you over 65? When I plug in $6,600 of Qualified Dividends and $70,000 or LTCG, I show you could have $15,900 of conversions before you'd have a tax liability. This is assuming MFJ, 2 exemptions, Under 65, using 2013 tax rates. but do you show a jump from 0 taxes to something near 10K with a $1 ...
by kaneohe
Tue Oct 28, 2014 4:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are we really in the 0% bracket?
Replies: 32
Views: 3646

Re: Are we really in the 0% bracket?

Might be a bug with TT? I used Taxcaster made by the same guys who made TT and got results similar to yours (the large discontinuity in tax results, not the 33K conversion). I then used the HR Block tax calculator http://www.hrblock.com/get-answers/tax-calculators.html Input same #s as you for QDIV/...
by kaneohe
Tue Oct 28, 2014 4:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are we really in the 0% bracket?
Replies: 32
Views: 3646

Re: Buying Salmon Online

[quote="mrsevansc".......................... They also carry frozen wild salmon in the seafood freezer section but it doesn't taste nearly as good. I guess they have different distributers.................................[/quote] or perhaps another type of salmon? kings(chinooks) and socke...
by kaneohe
Tue Oct 28, 2014 11:38 am
 
Forum: Personal Consumer Issues
Topic: Buying Salmon Online
Replies: 20
Views: 1648

Re: Medigap Open Enrollment date varies ?

I don't think medigap policies have an open enrollment period annually like medicare advantage and Rx policies do. You don't have a right to move freely among medigap policies once you enroll.........only if the companies want to take you and perhaps subject to medical underwriting tests. In some st...
by kaneohe
Tue Oct 28, 2014 10:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Medigap Open Enrollment date varies ?
Replies: 3
Views: 324

Re: Buying Salmon Online

You should be able to talk your market into selling you the frozen fish before they defrost it..........I'm sure they don't defrost them all at the same time.
.........and also have them cut the frozen fish into the right size chunks
by kaneohe
Tue Oct 28, 2014 10:20 am
 
Forum: Personal Consumer Issues
Topic: Buying Salmon Online
Replies: 20
Views: 1648

Re: ROTH IRA Withdrawal [Penalty for withdrawal?]

if under age 59.5, taxes and penalty on earnings. If over 59.5, no taxes/penalty since account is over 5 yrs old. But.........are you sure you have the history correct.... I thought you could only contribute some amount per year (less than 6K or so)....perhaps you contributed for 2 yrs in the first ...
by kaneohe
Mon Oct 27, 2014 9:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: ROTH IRA Withdrawal [Penalty for withdrawal?]
Replies: 4
Views: 538

Re: Traditional Medicare vs Medicare Advantage

. Also, from what I can see, traditional Medicare (with Medigap) doesn't generally have a max out-of-pocket limit, which Advantage plans have. Looks can be deceiving tho...................e.g. although Medigap Plan F may not have a stated max out-of-pocket, in a case with major costs that I am awar...
by kaneohe
Mon Oct 27, 2014 7:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Traditional Medicare vs Medicare Advantage
Replies: 30
Views: 1707

Re: Tax planning for long term capital gains

Which one is correct? $563 I also think $563 is correct. I went through the other one and didn't see anything that would account for the difference. But I have not had coffee yet. :D after coffee, look again :happy looks like it is 15% of 50K.......so the programmer should now ask chum what is wron...
by kaneohe
Sat Oct 25, 2014 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax planning for long term capital gains
Replies: 14
Views: 990

Re: anticipating tax rate in retirement

... If you have high income, 85% of your Social Security will be taxed as ordinary income. ... From the SS worksheet in the 1040 instructions, believe that is 85% of 50%-of-SS-income. So ~43% of SS income is taxed as ordinary income. This taxation level can come on in the top of the 15% tax bracket...
by kaneohe
Sat Oct 25, 2014 5:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: anticipating tax rate in retirement
Replies: 14
Views: 1629

Re: Tax planning for long term capital gains

Which one is correct? $563 I also think $563 is correct. I went through the other one and didn't see anything that would account for the difference. But I have not had coffee yet. :D after coffee, look again :happy looks like it is 15% of 50K.......so the programmer should now ask chum what is wrong.
by kaneohe
Sat Oct 25, 2014 9:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax planning for long term capital gains
Replies: 14
Views: 990

Re: Tax planning for long term capital gains

retiredjg has a good explanation. The STCG is taxed like ordinary income so it sits on top of or with the other income on the bottom so the LTCG , in the first order anyway, doesn't affect the taxation of the ordinary income
by kaneohe
Fri Oct 24, 2014 7:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax planning for long term capital gains
Replies: 14
Views: 990

Re: How to do taxes for sale of deceased father's stocks?

see if TT will allow an "inherited" code/abbreviation/etc. in "date acquired" column. I am not familiar w/ TT but the tax software I used allowed that. That should be enough if you can decipher that it was inherited from the coding. I use paper so an * and a note somewhere on the...
by kaneohe
Fri Oct 24, 2014 3:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to do taxes for sale of deceased father's stocks?
Replies: 18
Views: 1520

Re: How to do taxes for sale of deceased father's stocks?

Form 8949 allows you to adjust reported basis if necessary http://www.irs.gov/pub/irs-pdf/f8949.pdf see col f/g a brief narrative would probably also be helpful: e.g. inherited dd/mm/yyyy You may have to distinguish between what the company reports to you and to IRS since reporting to IRS was only r...
by kaneohe
Fri Oct 24, 2014 2:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to do taxes for sale of deceased father's stocks?
Replies: 18
Views: 1520

Re: Vanguard, TIPs, Accrued Interest & RMDs

not a TIPS answer but seems similar. PenFed CU has a monthly date for reporting e.g. CDs that is different for different individuals, e.g. 16th of the month. I was concerned that the accrued interest to end of month would make end of year valuation different than the one reported for Dec. However it...
by kaneohe
Fri Oct 24, 2014 11:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 1639

Re: HSA, Please Help!

The goal is not necessarily to pay 0 CA tax but to earn the most after CA tax. What does your crystal ball tell you about the aftertax(CA) return of TIPs vs your funds? Suppose TIPS returns are 3% and your funds return 5,6, or 7 % before tax. Won't the funds earn more aftertax(CA) than the TIPS? Of ...
by kaneohe
Fri Oct 24, 2014 10:44 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA, Please Help!
Replies: 4
Views: 676

Re: Marginal Tax Rate on Dual Income Couple

....................................... Otherwise, you are engaging in the same erroneous thinking that causes people to say things like "well, there's no point in her working when all of her income just goes to pay for childcare". ............................................. If a couple...
by kaneohe
Fri Oct 24, 2014 9:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Marginal Tax Rate on Dual Income Couple
Replies: 13
Views: 1138

Re: Paying Estimated Taxes

Have withholding for yr >= your total tax from last yr( or >= 110% of last yr total tax (if AGI>150K)) for a safe harbor Total tax line 61 on form 1040. Paying with withholding only is more forgiving of penalties because withholding is treated as being paid evenly throughout the yr even though it wa...
by kaneohe
Thu Oct 23, 2014 4:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Paying Estimated Taxes
Replies: 6
Views: 399

Re: Do inherited IRA's affect taxes due on a Roth conversion

from a previous thread: http://www.bogleheads.org/forum/viewtopic.php?f=1&t=99336

as is typical, it depends.................................
by kaneohe
Thu Oct 23, 2014 10:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Do inherited IRA's affect taxes due on a Roth conversion?
Replies: 1
Views: 161

Re: Question about nondeductible traditional IRAs

Your points about considering additional contributions to a nondeductible tIRA are well taken. The points made in this forum have opened my eyes that taxable would most likely be a better choice as the money will be heavy in equities due to the AA in my other accounts. So, you are saying that when ...
by kaneohe
Thu Oct 23, 2014 10:45 am
 
Forum: Investing - Help with Personal Investments
Topic: Question about nondeductible traditional IRAs
Replies: 6
Views: 441

Re: MAGI/ ira limit question

Maybe I am missing the point of a nondeductible ira contribution. It would like putting money into a taxable account, except where dividends are concerned. Money is taxed when you put it in and taxed when you take it out.................................. believe it or not, the IRS does not believe ...
by kaneohe
Thu Oct 23, 2014 10:13 am
 
Forum: Personal Finance (Not Investing)
Topic: MAGI/ ira limit question
Replies: 12
Views: 535

Re: MAGI/ ira limit question

You need to report nondeductible contributions on this form http://www.irs.gov/pub/irs-pdf/f8606.pdf
Otherwise IRS doesn't know they are nondeductible and assumes otherwise, in which case they are taxable when withdrawn.
by kaneohe
Thu Oct 23, 2014 9:18 am
 
Forum: Personal Finance (Not Investing)
Topic: MAGI/ ira limit question
Replies: 12
Views: 535

Re: Question about nondeductible traditional IRAs

[quote="Bigvol"I ............................................................... Also have been contributing to a nondeductible tIRA. I started the nondeductible tIRA when my income rose above the limits for the Roth IRA and the gains from my existing deductible IRA's were too much (IMO) t...
by kaneohe
Thu Oct 23, 2014 9:07 am
 
Forum: Investing - Help with Personal Investments
Topic: Question about nondeductible traditional IRAs
Replies: 6
Views: 441

Re: MAGI/ ira limit question

a regular or normal Roth........in your case, you would have to recharacterize your existing TIRA contribution and it would be as if you had made the contribution to a Roth in the first place (talk to your broker or fund company).
by kaneohe
Wed Oct 22, 2014 8:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: MAGI/ ira limit question
Replies: 12
Views: 535

Re: Help with HSA in CA. Am I ready? How-to?

The best investments for California HSAs if you want to minimize state taxes are nominal US Treasuries and CA Munis. (And even those aren't fully immune if you hold them in a fund that has short- or long-term capital gains distributions.) California taxes pretty much all other investment types in a...
by kaneohe
Wed Oct 22, 2014 8:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with HSA in CA. Am I ready? How-to?
Replies: 22
Views: 1638

Re: lost 8606 from years ago - am I in trouble?

I would guess that you can file w/o the 8606. If IRS has a problem w/ that , they will have to dig up the 8606 (if filed) and then you will have it. Then do a 1040X and get your $5 back. The risk seems to be that if file w/o it, then years later find the 8606, you may lose that $600 basis because IR...
by kaneohe
Wed Oct 22, 2014 7:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: lost 8606 from years ago - am I in trouble?
Replies: 16
Views: 1736
Next

Return to advanced search